Message #1 From:
NewsBot Date: February 21, 2007 09:12:00 AM
YCKM News Yellowcake Mining Inc. Closes Private Placement and Appoints Dick Klatt to its Board of Directors
LAS VEGAS--(BUSINESS WIRE)--Yellowcake Mining Inc. (OTCBB: YCKM) (“Yellowcake”) is pleased to announce the appointment of Dick Klatt to the Board of Directors. Mr. Klatt is a geologist with over 40 years of experience in the mining industry. Mr. Klatt’s focus has been in the United States where he has worked extensively as a consulting mineral exploration geologist on numerous gold, uranium, precious and base metal projects. He has held various positions including Vice President of Exploration for Gold Standard Inc., and as supervising geologist for the Getty Mining company.
Mr. Tafuri commented, “We are pleased to have such an experienced geologist join our team. Dick will be a valuable asset in helping us to identify new projects, as well as evaluating and developing our uranium projects.” Mr. Klatt stated, “I am pleased to join the Board and look forward to helping Yellowcake advance its timely business plan.”
Yellowcake is also pleased to announce that the Company has closed a private placement for gross proceeds of $4,130,000 USD at $1.00 per unit, with each unit consisting of 1 share and one-half warrant, each whole warrant is exercisable at $1.50 for two years. The funds will be used for working capital, investor relations and to help meet the Company’s obligations under the recently announced joint venture on the Baggs-Juniper Ridge uranium project in Wyoming, USA.
